The Brazilian Aluminum Association (ABAL) and the organizations that form part of the metal production chain in the US, the European Union, Japan, Canada and Mexico have drawn up a letter requesting G20 leaders to place as a priority the creation of a Global Excess Forum of Aluminum capacity, mainly originated by China. A letter also contains market data, which proves this urgency, in the graphs attached to the text.
The objective is to sensitize participants to the G20, whose meeting will be held in Buenos Aires in November to begin a multilateral debate on the excess supply of aluminum in the world.
According to Milton Rego, chief executive of ABAL, “it is very important that a matter of aluminum overcapacity be qualified in a comprehensive, multilateral and not countrywide manner as seen. The creation of an International Forum for addressing the issue could be the beginning of a more sustainable approach for our industry.”
See the full letter here.